Bitcoin recently spent some time in a on a 5th impulse wave down and broke under as seen above. Yesterday, we retested the lower bound and broke under, as expected. We were at the top of the hourly BBands, and historically in downtrends a 100 level has been fairly consistent in telling us that more down movement is ahead. The VPVR shows that our previous grim predictions are still likely to come true, with buy seemingly vanishing. Looking at the 6 hour (https://www.tradingview.com/x/7Zu8PBgG/) , we see that the 5th impulse wave, if this breakdown is as serious as it looks, will be over-extended, likely to add the length of the initial wave before the , giving us a target of another $800 down, supporting the idea that we will land somewhere around the of $6450, level 0 of our macro fib level. A contrarian look to the negativity lies on the daily (https://www.tradingview.com/x/lRuKJ7Fo/) , where we seem to be on the C wave of a macro-correction, so despite signs we still have to wait and see what happens once we interact with the $6k range. All the best with your trading!
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.